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Compare And Contrast The American Recovery And Reinvestment Act Of 2009

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This recession was the longest recession since WWII lasting from December 2007 to June 2009. GDP fell 4.1%, from $13.363 trillion in the fourth quarter of 2007 to $12.861 trillion in the second quarter of 2009. The unemployment rate, which was 5% in 2007, rose to 9.5 % in mid-2009 and peaked at 10% by the end of 2009. Inflation rate began at 4.1% in 2007, dropped to .1% in 2008, and rose to 2.7% in 2009. The negative supply shock due to rising oil prices shifted the short-run AS curve upward and to the left. The negative demand shock from a financial crisis shifted the AD curve to the left. Fiscal policies during this time included the Economic Stimulus Act of 2008 and the American Recovery and Reinvestment Act of 2009. Monetary policies included

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